Knight Therapeutics Announces Closing of Previously Announced Acquisition of Paladin
On the closing date, Knight paid approximately $107 million in cash including $22.3 million for the payment of inventory. The payment at closing was reduced by a holdback amount of $15.4 million, of which $10 million may be released under specific conditions and the remaining $5.4 million is expected to be used to settle certain liabilities. In addition, Knight may pay future contingent payments of up to US$15 million upon achieving certain sales milestones.
'We are thrilled to announce the successful closing of the Paladin acquisition and look forward to continuing this journey as we integrate our organizations. The combination of Knight's current Canadian business with the Paladin and the Sumitomo portfolios, will add critical mass and change the growth trajectory to place Canada as one of the top revenue contributors over the next two years', said Samira Sakhia, President and Chief Executive Officer of Knight. 'In addition, having closed both Paladin and Sumitomo as well as the revolving line of credit we remain well positioned to continue to transact and execute on our mission to acquire, in-license, develop, and commercialize pharmaceutical products in Latin America and Canada.'
RBC Capital Markets is serving as exclusive financial advisor to Knight, and Davies Ward Phillips & Vineberg is serving as Knight's legal counsel.
About Knight Therapeutics Inc.
Knight Therapeutics Inc., headquartered in Montreal, Canada, is a specialty pharmaceutical company focused on acquiring or in-licensing and commercializing pharmaceutical products for Canada and Latin America. Knight's Latin American subsidiaries operate under United Medical, Biotoscana Farma and Laboratorio LKM. Knight Therapeutics Inc.'s shares trade on TSX under the symbol GUD. For more information about Knight Therapeutics Inc., please visit the company's web site at www.knighttx.com or www.sedarplus.ca.
Forward-Looking Statements for Knight
This document contains forward-looking statements for Knight Therapeutics Inc. and its subsidiaries. These forward-looking statements, by their nature, necessarily involve risks and uncertainties that could cause actual results to differ materially from those contemplated by the forward-looking statements. Knight Therapeutics Inc. considers the assumptions on which these forward-looking statements are based to be reasonable at the time they were prepared but cautions the reader that these assumptions regarding future events, many of which are beyond the control of Knight Therapeutics Inc. and its subsidiaries, may ultimately prove to be incorrect. Factors and risks which could cause actual results to differ materially from current expectations are discussed in Knight Therapeutics Inc.'s Annual Report and in Knight Therapeutics Inc.'s Annual Information Form for the year ended December 31, 2024, as filed on www.sedarplus.ca. Knight Therapeutics Inc. disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information or future events, except as required by law.
CONTACT INFORMATION FOR KNIGHT:
Investor Contact:
Knight Therapeutics Inc.
Samira Sakhia
Arvind Utchanah
President & Chief Executive Officer
Chief Financial Officer
T: 514.484.4483
T. +598.2626.2344
F: 514.481.4116
Email: IR@knighttx.com
Email: IR@knighttx.com
Website: www.knighttx.com
Website: www.knighttx.com
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